Trump Announces US Crypto Reserve With XRP, Cardano, and Solana

US President Donald Trump has announced plans for a US Crypto Strategic Reserve. Trump declared that the reserve would include XRP, Solana (SOL), and Cardano (ADA), 

According to today’s announcement, Trump has signed an executive order for the Digital Assets Working Group to proceed with this reserve. 

US to Have a National Crypto Reserve with XRP, ADA, and SOL

After much anticipation of a national Bitcoin reserve, the US president has made a major announcement of establishing a national crypto reserve, prioritizing ‘US made cryptocurrencies.’

He framed the initiative as a countermeasure to what he called “corrupt attacks” on the cryptocurrency industry under the Biden administration.

“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World,” President Trump posted on Truth Social. 

The announcement builds on Executive Order 14178, signed earlier this year, which established the Presidential Working Group on Digital Asset Markets.

The group, led by Crypto Czar David Sacks, was tasked with shaping a national framework for digital assets. This included the potential for a government-held cryptocurrency reserve. It seems that the group has finished their assessment and chose these three digital assets.

Meanwhile, today’s announcement came as a surprising decision for the crypto community. Bitcoin was widely expected to be the foundation of any federal digital asset holdings.

However, Trump’s decision to prioritize XRP, SOL, and ADA suggests a broader approach to blockchain adoption.

XRP and Cardano Goes Parabolic

Immediately after the announcement, all three tokens jumped significantly, with buying pressure quickly increasing. XRP has surged nearly 20%, reaching $2.60 after previous indicators suggested the altcoin might drip under $2 in the bear market.

Cardano has witnessed the biggest rally. ADA is up 30% in the past hour, and the overall ‘Made in US’ crypto segment is up 11%.

Solana is also up by nearly 15% in the past hour. The altcoin was experiencing increased selling pressure due to meme coin controversies and increased scams on the network. However, Trump’s announcement has likely created a new bullish cycle for SOL.

Trump’s push for a national crypto reserve could set the stage for sweeping legislative changes, including potential crypto-friendly tax policies and regulatory overhauls. The Presidential Working Group’s recommendations are expected in the coming months.